Shree Ram Twistex IPO
Shree Ram Twistex IPO was a Mainboard book-built issue of ₹110.24 crore, consisting entirely of a Fresh Issue of 1.06 crore equity shares with no Offer for Sale. The price band was ₹95 to ₹104 per share, with a lot size of 144 shares. The IPO opened on Fe
Shree Ram Twistex IPO Details
Shree Ram Twistex IPO bidding started from Feb 23, 2026 and ended on Feb 25, 2026. The allotment for Shree Ram Twistex IPO was finalized on Feb 26, 2026. Shree Ram Twistex IPO will list on BSE, NSE on Mar 2, 2026.
Shree Ram Twistex IPO GMP
Shree Ram Twistex IPO GMP turned negative after the IPO closed. The final recorded GMP before listing was -₹25, indicating a grey-market discount of around 24% to the ₹104 issue price. The shares subsequently listed at ₹68 on NSE, showing that GMP was only an unofficial indicator and did not guarantee the actual listing price.
Shree Ram Twistex IPO Timeline (Tentative)
Shree Ram Twistex IPO opened for subscription on February 23, 2026, and closed on February 25, 2026. The basis of allotment was finalized on February 26, refunds were initiated on February 27, and shares were credited to successful applicants' Demat accounts on the same day. The shares were listed on BSE and NSE on March 2, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Mon, Feb 23, 2026 |
| IPO Close Date | Wed, Feb 25, 2026 |
| Basis of Allotment | Thu, Feb 26, 2026 |
| Initiation of Refunds | Fri, Feb 27, 2026 |
| Credit of Shares to Demat | Fri, Feb 27, 2026 |
| Listing Date | Mon, Mar 2, 2026 |
| IPO Opens | February 23, 2026 |
| IPO Closes | February 25, 2026 |
| Basis of Allotment | February 26, 2026 |
| Refund Initiation | February 27, 2026 |
| Credit of Shares to Demat | February 27, 2026 |
| Listing Date | March 2, 2026 |
Shree Ram Twistex IPO Lot Size
The Shree Ram Twistex IPO lot size was 144 shares. At the upper price band of ₹104 per share, one lot required a minimum investment of ₹14,976. Retail investors could apply for up to 13 lots, or 1,872 shares, amounting to ₹1,94,688.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 144 | 14,976 |
| Retail (Max) | 13 | 1,872 | 1,94,688 |
| S-HNI (Min) | 14 | 2,016 | 2,09,664 |
| S-HNI (Max) | 66 | 9,504 | 9,88,416 |
| B-HNI (Min) | 67 | 9,648 | 10,03,392 |
Shree Ram Twistex IPO Reservation
Shree Ram Twistex IPO comprises a total issue size of 1,06,00,000 shares. Out of which, 79,50,000 (75.00%) are allocated to QIB, 15,90,000 (15.00%) allocated to NII 10,60,000 (10.00%) allocated to RII.
Shree Ram Twistex IPO Subscription
Shree Ram Twistex IPO received 43.66x overall subscription by the close of bidding on February 25, 2026. The issue saw particularly strong demand from NIIs at 220.30x and retail investors at 76.63x, while QIBs subscribed 3.94x.
| Category | Subscription (times) |
|---|---|
| QIB | 3.94x |
| NII | 220.30x |
| RII | 76.63x |
| Total | 43.66x |
About Shree Ram Twistex
Shree Ram Twistex manufactures cotton yarns, including Compact Ring Spun and Carded Yarns, both Combed and Carded. The yarns are used in both knitting and weaving for various products, such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.
It also offers value-added yarns, like Eli Twist (Combed and Carded), Compact Slub Yarns, and Lycra-Blended Yarns.
The company operates on business-to-business (B2B) model - supplying products to textile manufacturers, garment exporters, bulk purchasers and fabric processors. It sells products across states, including Gujarat, Rajasthan, West Bengal, Maharashtra, Tamil Nadu, Madhya Pradesh, and Punjab, as well as the union territory of Dadra and Nagar Haveli, and also export internationally.
Its manufacturing facility is located in Gondal, Rajkot, Gujarat, with 17 compact ring-spinning machines with a total spindle count of 27,744. The company also has five (5) warehouses, two (2) raw material storage, two (2) for finished goods, and one (1) for general storage, with a combined storage capacity of 9,855 MT.
Strengths
- Fully integrated manufacturing facility: The company operates an integrated spinning facility covering key stages from raw-cotton procurement to finished yarn packaging, supporting quality control and operational efficiency.
- Value-added product portfolio: Shree Ram Twistex manufactures compact ring-spun, carded and combed cotton yarns along with value-added products such as ELI Twist, compact slub and Lycra-blended yarns.
- Established customer relationships: The company has long-standing relationships with key customers and a network of brokers and agents that supports sales and customer retention.
- Strategic manufacturing location: Its manufacturing facility in Gujarat provides access to the textile ecosystem, logistics and raw-material supply, with scope for future expansion.
- Improving financial performance: Revenue and profitability have increased over recent financial years, with FY2025 revenue of about ₹255 crore and PAT of ₹8 crore.
- Renewable-energy initiatives: IPO proceeds were earmarked partly for a 6.1 MW captive solar power plant and 4.2 MW captive wind power plant, which are intended to reduce dependence on conventional electricity and improve cost efficiency.
- Experienced promoters and management: The company is backed by promoters with experience in the textile industry and an established operating history.
Risks to Consider
- High customer concentration: A substantial portion of revenue comes from a limited number of customers. The top 10 customers accounted for around 90% of revenue during the nine-month period ended December 31, 2024.
- Geographical concentration: The company has significant dependence on Gujarat. Revenue from Gujarat represented approximately 91.73% of revenue from operations during the nine months ended December 31, 2024.
- Cotton price and supply risk: Cotton is the company's principal raw material, and disruptions in supply or adverse movements in cotton prices could affect margins and profitability.
- Product concentration: A significant share of revenue comes from Carded Cotton Yarn, Combed Cotton Yarn and ELI Twist Yarn, making the company vulnerable to changes in demand and pricing for these products.
- Quality compliance risk: The company must meet stringent quality requirements of institutional buyers. Failure to meet specifications could result in product rejection and adversely affect business performance.
- Textile-industry cyclicality: Changes in textile demand, yarn prices, competition and industry conditions can directly affect revenue and margins.
- Manufacturing concentration: Dependence on its manufacturing facility in Gujarat exposes the company to operational disruptions, including equipment failure and other unforeseen events.
KPIs & Valuation
At the IPO price band of ₹95–₹104, Shree Ram Twistex was valued at approximately 34.93–38.24x FY2025 earnings on a pre-issue basis. Its FY2025 EPS was ₹2.72, while NAV was ₹23.97 per share. The company reported a 10.80% RONW and 13.37% ROCE for FY2025.
Objects of the Issue
The ₹110.24 crore IPO was a 100% Fresh Issue of 1.06 crore equity shares. The company proposed to use the proceeds for renewable-energy projects, repayment/prepayment of borrowings, working-capital requirements and general corporate purposes.
- The company proposed to utilise the IPO proceeds for:
- Funding the setting up of a 6.1 MW Solar Power Plant for captive use.
- Funding the setting up of a 4.2 MW Wind Power Plant for captive use.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
- Funding the working capital requirements of the company.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Shree Ram Twistex Limited is promoted by Bhaveshbhai Bhikhubhai Ramani, Jay Atulbhai Tilala and Nidhi Bhaveshbhai Kothari. The IPO had Interactive Financial Services Limited as the Book Running Lead Manager and Bigshare Services Private Limited as the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Shree Ram Twistex IPO Review
Shree Ram Twistex has an established presence in the cotton yarn manufacturing business, with a diversified range of yarn products and an integrated manufacturing setup. Its financial performance has improved, with revenue increasing from ₹213.10 crore in FY2023 to ₹255.04 crore in FY2025, while PAT increased from ₹2.05 crore to ₹8.00 crore during the same period.
A positive aspect of the IPO is the proposed investment in captive renewable-energy projects, including a 6.1 MW solar power plant and a 4.2 MW wind power plant. These projects are intended to support the company's energy requirements and potentially improve cost efficiency.
However, the company operates in a cyclical and competitive textile industry, and its business has significant customer and geographical concentration. The IPO valuation was also relatively high compared with its FY2025 earnings, with a P/E of around 34.93x–38.24x at the IPO price band.
How to Apply
Shree Ram Twistex IPO applications could be made through ASBA or UPI. The IPO opened on February 23, 2026 and closed on February 25, 2026. The minimum application was 1 lot of 144 shares, requiring ₹14,976 at the upper price band of ₹104.
Through UPI
- Log in to your stockbroker app/website.
- Go to the IPO section.
- Select Shree Ram Twistex IPO.
- Enter the number of lots you want to apply for.
- Select the bid price. Retail investors can generally choose Cut-off when available.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Last updated Aug 14, 2026.